Securian Asset Management Inc. Has $4.17 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Securian Asset Management Inc. decreased its position in Equinix, Inc. (NASDAQ:EQIX) by 1.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,509 shares of the financial services provider’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Equinix were worth $4,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in Equinix in the 4th quarter worth $408,750,000. Sequoia Financial Advisors LLC boosted its stake in shares of Equinix by 177.0% during the 4th quarter. Sequoia Financial Advisors LLC now owns 3,714 shares of the financial services provider’s stock worth $2,991,000 after buying an additional 2,373 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Equinix by 179.2% during the 4th quarter. Geneos Wealth Management Inc. now owns 726 shares of the financial services provider’s stock worth $585,000 after buying an additional 466 shares during the last quarter. Harbor Investment Advisory LLC raised its holdings in shares of Equinix by 30.4% in the 4th quarter. Harbor Investment Advisory LLC now owns 639 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 149 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Equinix by 63.0% in the 4th quarter. Cerity Partners LLC now owns 3,242 shares of the financial services provider’s stock valued at $2,611,000 after purchasing an additional 1,253 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Equinix in a report on Monday, July 1st. They issued a “buy” rating and a $870.00 price target on the stock. Wells Fargo & Company raised shares of Equinix from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $825.00 to $875.00 in a report on Tuesday, July 23rd. Royal Bank of Canada reduced their price target on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 28th. TD Cowen raised their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Barclays raised their target price on shares of Equinix from $669.00 to $671.00 and gave the company an “equal weight” rating in a research report on Thursday, May 30th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $871.71.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now owns 12,758 shares in the company, valued at approximately $10,212,779. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Brandi Galvin Morandi sold 2,070 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Equinix Stock Performance

Shares of Equinix stock traded down $4.77 on Monday, reaching $814.11. 141,852 shares of the company traded hands, compared to its average volume of 565,221. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93. The company has a 50 day moving average of $774.36 and a 200 day moving average of $796.11. The firm has a market capitalization of $77.26 billion, a PE ratio of 82.13, a PEG ratio of 2.80 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a net margin of 11.32% and a return on equity of 7.73%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the previous year, the company posted $8.04 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities analysts forecast that Equinix, Inc. will post 31.23 earnings per share for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is presently 170.91%.

Equinix Profile

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.